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U.S. Department of Commerce grants $1.7M to Missouri town

Montgomery City, Mo. has been awarded $1.7 million to construct a broadband fiber network to serve local businesses. Funding is being channeled through the Economic Development Administration under the U.S. Department of Commerce.

U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million grant to Montgomery City, Mo. to construct a broadband fiber network to serve local businesses.

The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $421,681 in local funds, is expected to create 70 jobs, retain 8 jobs, and generate $12 million in private investment.

“Expanding broadband access is critical to a resilient economy, especially now with so many Missourians depending on the internet for health care, education, and work,” said Missouri Gov. Mike Parson. “This grant to Montgomery City will not only build on Missouri’s broadband infrastructure but help also generate business expansion and economic growth in the region.”

“The Trump Administration is committed to helping American communities impacted by natural disasters build the modern infrastructure necessary to attract new businesses,” said Secretary of Commerce Wilbur Ross. “This project will allow Montgomery City to create a more resilient economy through broadband, and the project’s location in an Opportunity Zone will draw in business growth and private investment.”

This project was made possible by the regional planning efforts led by the Boonslick Regional Planning Commission, which EDA funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.